Monday, August 23, 1999
The South Carolina Senate amended the House-passed version of General Bill 3002 before approving the measure, which would prohibit certain "cruise to nowhere" gaming operations. The House subsequently altered the Senate amendments; the Senate failed to concur with the changes; and the measure was referred to a conference committee. The House-passed version prohibited gambling on voyages beginning and ending in the state, consistent with the standards specified in the Johnson Act Amendments of 1992. The Senate version prohibits gambling on cruises beginning and ending in the state, that don't make an intervening stop within the boundaries of another state or foreign country. The amendments provide an exemption from the general prohibition for voyages and voyage segments that begin and end in the state, are part of a voyage to another state or foreign country, and in which the vessel reaches the other state or foreign country within three days after leaving the state in which the segment begins. The bill also specifies the prohibition does not apply to a commercial passenger vessel having dining facilities and sleeping accommodations for every passenger and sailing on a voyage lasting more than 12 hours.

Contracts

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

Legal

MN100: MOPS Marine License Insurance

The Company: Since 1935, MOPS Marine License Insurance has defended the USCG licenses of mariners operating in every maritime sector in the United States. Its network of over 80 maritime law firms,

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

 
 
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